Hormel Foods Corp (NYSE:HRL) EVP Thomas R. Day sold 48,596 shares of Hormel Foods stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $45.54, for a total transaction of $2,213,061.84. Following the transaction, the executive vice president now directly owns 93,132 shares in the company, valued at $4,241,231.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE HRL opened at $44.34 on Friday. Hormel Foods Corp has a 52 week low of $31.71 and a 52 week high of $46.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 1.80. The firm has a market cap of $23.94 billion, a PE ratio of 23.46, a PEG ratio of 2.94 and a beta of 0.13.

Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 20th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Hormel Foods Corp will post 1.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Monday, January 14th will be given a dividend of $0.21 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, January 11th. Hormel Foods’s payout ratio is presently 39.68%.

A number of brokerages have weighed in on HRL. Credit Suisse Group set a $39.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Wednesday, November 21st. BMO Capital Markets cut shares of Hormel Foods from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $38.00 to $44.00 in a research report on Monday, September 17th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Buckingham Research lifted their price target on shares of Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Finally, ValuEngine raised shares of Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Hormel Foods presently has a consensus rating of “Hold” and an average price target of $40.56.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Partners LLC lifted its position in shares of Hormel Foods by 9.2% during the third quarter. Advisor Partners LLC now owns 13,826 shares of the company’s stock worth $545,000 after purchasing an additional 1,167 shares in the last quarter. FMR LLC lifted its position in shares of Hormel Foods by 2.7% during the third quarter. FMR LLC now owns 46,834 shares of the company’s stock worth $1,845,000 after purchasing an additional 1,250 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Hormel Foods by 3.0% during the second quarter. CIBC Asset Management Inc now owns 47,782 shares of the company’s stock worth $1,778,000 after purchasing an additional 1,383 shares in the last quarter. Gardner Russo & Gardner LLC increased its stake in shares of Hormel Foods by 0.9% in the third quarter. Gardner Russo & Gardner LLC now owns 160,023 shares of the company’s stock worth $6,305,000 after buying an additional 1,422 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Hormel Foods by 10.3% in the third quarter. Pacer Advisors Inc. now owns 15,586 shares of the company’s stock worth $614,000 after buying an additional 1,451 shares during the last quarter. 42.28% of the stock is currently owned by institutional investors and hedge funds.

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Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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